D. E. Shaw & Co. Inc. Invests $567,000 in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

D. E. Shaw & Co. Inc. acquired a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 79,702 shares of the company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ULCC. Highland Peak Capital LLC purchased a new stake in Frontier Group during the fourth quarter valued at about $6,492,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Frontier Group by 247.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock valued at $6,585,000 after acquiring an additional 659,811 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Frontier Group by 31.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock valued at $17,042,000 after acquiring an additional 578,151 shares during the period. Dimensional Fund Advisors LP grew its position in Frontier Group by 210.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company’s stock worth $5,721,000 after acquiring an additional 545,485 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its position in Frontier Group by 105.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 420,384 shares of the company’s stock worth $2,989,000 after acquiring an additional 215,607 shares during the last quarter.

Insider Buying and Selling at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 48.00% of the company’s stock.

Frontier Group Trading Down 2.1%

Shares of ULCC opened at $3.67 on Monday. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The firm has a market capitalization of $835.90 million, a price-to-earnings ratio of 10.19 and a beta of 2.55. The firm’s 50-day moving average price is $3.89 and its 200-day moving average price is $6.06. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The company had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $996.05 million. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. Sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ULCC shares. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Susquehanna dropped their price target on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Citigroup decreased their price objective on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Morgan Stanley lowered their price objective on shares of Frontier Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Finally, Bank of America cut their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.00.

Frontier Group Company Profile

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.